In 2005, the Enterprise Zone Act went into effect. Under this program two grant-based incentives are available:

Job Creation Grants and

Real Property Investment Grants

Tazewell County is Zone 44 of Virginia's Enterprise Zone. Areas in the county that are potentially focussed on commercial, industrial and mixed use buildings have been designated as in the Enterprise Zone. Each year consideration is given to adding, deleting or changing these areas to maximize the incentive opportunities. Click here for a current map of Zone 44.

Virginia Ally | Information Exchange

The Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development (DHCD), assists with business development and expansion in specially targeted areas throughout the state called Enterprise Zones. Click here for more information.

Virginia Jobs Investment Program (VJIP)

The Virginia Jobs Investment Program (VJIP) provides services and funding to companies creating new jobs or experiencing technological change.

Currently, the Virginia Jobs Investment Program offers three programs to both new and existing businesses: New Jobs Program, Small Business New Jobs Program and Retraining Program Eligibility for assistance in any of the programs offered by the Virginia Jobs Investment Program. VJIP is limited to projects that create basic employment for the Commonwealth and only for-profit companies in the following business sectors will qualify:

Manufacturing

Distribution Centers

Corporate HQ’s for Companies with Multiple Facilities (only HQ support positions will be funded)

The Virginia Economic Development Incentive Grant (VEDIG) is a discretionary performance incentive, designed to assist and encourage companies to invest and create new employment opportunities by locating significant headquarters, administrative or service sector operations in Virginia.

The Virginia Small Business Financing Authority (VSBFA) stands ready to assist those businesses and non-profit organizations looking to grow in Virginia, the local economic development authorities and municipalities needing debt financing to attract businesses into their jurisdictions, as well as bankers seeking to find creative ways in which to make that next loan to a small business. Click here for more information.

Economic Development Access Program

The Economic Development Access Program assists localities in providing adequate road access to new and expanding manufacturing or processing companies, research and development facilities, distribution centers, regional service centers, corporate headquarters, or other basic employers. The Virginia Department of Transportation (VDOT) administers this program.

Provides funds to construct railroad tracks to new or substantially expanded industrial and commercial projects. Click here for more information.

Icing on the Cake

VEZ Rewards

As the local Zone Administrator, Economic Development signed two Real Property Grant Qualification Forms for expanding businesses in Tazewell County last year. One business had an expansion totaling over $700,000. The other, an investment over $630,000. Both businesses exceeded the minimum qualification of $500,000. As a result, they were eligible for $100,000 each from the Department of Housing and Community Development. In addition, local incentives from the Tazewell County IDA will also be considered.

COF Rewards

In 2015, three manufacturing companies in our county received approval for Commonwealth Opportunity Funds to help expand their companies. Tazewell County is blessed with manufacturing companies who are working hard to diversify their portfolio and increase their capabilities. Tazewell County is also working to improve our skilled workforce to assure personnel are available for companies as they grow.